Victory Capital Management Inc. Sells 360,454 Shares of Zeta Global Holdings Corp. (NYSE:ZETA)

Key Points

• Victory Capital Management Inc. significantly reduced its stake in Zeta Global by 89.2% during Q1, leaving it with 43,506 shares valued at approximately $590,000.
• Numerous hedge funds are adjusting their positions in Zeta Global, with firms like Optiver Holding B.V. and Coppell Advisory Solutions LLC increasing their stakes by over 60% and 244%, respectively.
• Wall Street analysts have lowered their price targets for Zeta Global, with ranges between $16.00 to $30.00, while maintaining a consensus rating of "Moderate Buy" for the stock.

Victory Capital Management Inc. decreased its stake in Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 89.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,506 shares of the company's stock after selling 360,454 shares during the quarter. Victory Capital Management Inc.'s holdings in Zeta Global were worth $590,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. acquired a new position in shares of Zeta Global during the fourth quarter worth about $331,000. LPL Financial LLC raised its stake in Zeta Global by 100.9% in the fourth quarter. LPL Financial LLC now owns 148,097 shares of the company's stock valued at $2,664,000 after buying an additional 74,396 shares during the period. Norges Bank bought a new position in shares of Zeta Global during the fourth quarter worth approximately $43,236,000. Pictet Asset Management Holding SA grew its position in Zeta Global by 30.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 28,064 shares of the company's stock worth $505,000 after buying an additional 6,569 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Zeta Global in the 4th quarter valued at $6,614,000. Institutional investors and hedge funds own 87.75% of the company's stock.

Zeta Global Trading Up 25.1%

Shares of NYSE ZETA traded up $3.98 during trading hours on Wednesday, hitting $19.85. The company's stock had a trading volume of 39,670,128 shares, compared to its average volume of 6,703,736. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.33 and a current ratio of 3.33. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -68.67, a P/E/G ratio of 58.94 and a beta of 1.28. Zeta Global Holdings Corp. has a 12 month low of $10.69 and a 12 month high of $38.20. The business has a 50-day simple moving average of $14.58 and a 200-day simple moving average of $15.27.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ZETA shares. Royal Bank Of Canada cut their target price on Zeta Global from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Needham & Company LLC dropped their price objective on Zeta Global from $43.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. DA Davidson dropped their price objective on Zeta Global from $42.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group dropped their price target on Zeta Global from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group dropped their price target on Zeta Global from $27.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Zeta Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.86.

About Zeta Global

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company's Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.